最新中枢神经系统(端脑).-药学医学精品资料.ppt

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1、最新中枢神经系统(端脑).-药学医学精品资料TheFirm:OptimisationMicroEconomics2001/2ProductionOptimisationTheFirmComparativeStaticsTheFirmandtheMarketComparativeStaticsTheFirmandtheMarketProductionOverviewObjectivesConstraintsMethod-Profitmaximisation?-Technology;other-2-stageo

2、ptimisationLet'smakeaquicklistofthecomponentsofastandardoptimisationproblem.Let'salsolookaheadtothewaywewilldoitforthefirm...Theoptimisationproblem...andquantitieswiPpriceofinputipriceofoutputziQamountofinputiamountofoutputUsetheinformationonprices...PQ-Sw

3、izimi=1Profits:PQRevenue:Swizimi=1Costofinputs:Soweget...Tosetup...…theobjectiveofthefirmPQ-Swizimi=1-=+Swizimi=1PQTheobjectiveofthefirmAsimpledefinitionofprofitsChooseQandztomaximiseP:=PQ-Swizimi=1Q£G(z)...subjecttotheproductionconstraint...Q³0z³0...andso

4、meprettyobviousconditions:Optimisation:thestandardapproachYoucan’thavenegativeinputsYoucan’thavenegativeoutputSetupaLagrangeantotakecareoftheconstraintsBangouttheFirstOrderConditions(FOC)Checkoutsecond-orderconditionssufficiencynecessityUsingstandardmethod

5、s...FOC:theFirst-OrderConditionsL(...)¶¶zFirstorderconditionsareusedoverandoverinoptimisationproblemsaswewillsee...L(...)=0TheLagrangeanDifferentiateTheFirmProductionCostminimisationOptimisationComparativeStaticsTheFirmandtheMarketProfitmaximisationProfitm

6、aximisationTwostagesofoptimisationSwizimi=1PickatargetoutputlevelQTakeasgiventhemarketpricesofinputsw(andofoutputP)Maximiseprofits......byminimisingcostsStage1optimisationForagivensetofinputpricesw......thisisthesetofpointszininputspace......thatyieldagive

7、nleveloffactorcost.Theseformahyperplane(straightline)......becauseofthesimpleexpressionforfactorcostWeintroducetheisocostSwizimi=1Swizimi=1z2z1increasingcostw1z1+w2z2=c(constant)w1z1+w2z2=c'w1z1+w2z2=c"Iso-costlinesz2z1warning-infeasible!!z*Whatconditionho

8、ldsatexactlythispoint??Cost-minimisation_______=Gi(z)wiGj(z)wjinputMRTS=priceratioIfbothiandjareinuseandMRTSisdefined...Whatifwechangedtheassumptionsabouttechnology?implicitprice=marketpricez2z1{Whatwouldhapp